Tuesday 13th of January Market Report

The main market movers remain Crude oil and Central Banks for the time being. We expect the interest rates to fall even further and at some point ECB will take action, most likely on the next meeting at next Thursday.

Crude oil traded below 45 USD per barrel today and looks extremely oversold at these levels. The bottom is always very difficult to call, but we do not think it will go below 30 USD per barrel. Even below 50 USD per barrel in the long run looks unlikely.

Euro has more potential downside and we could easily be looking at parity with the USD later this year if things turn really ugly in the Euro zone.

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